ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet decided to grant one-time waiver for clearance of used vehicles by importers of cars manufactured in the year 2009.
The executive body also allowed the Trading Corporation of Pakistan (TCP) to purchase 75,000 tonnes of sugar from mills in the first month and 50,000 tonnes in the subsequent months.
The ECC which met under the chair of Finance Minister Ishaq Dar took up a number of issues for consideration and approval.
The meeting was attended by Minister for Planning and Development Ahsan Iqbal, Minister for Industries and Production Ghulam Murtaza Jatoi, Minister for National Food Security Sikandar Hayat Bosan, Minister for Information and Broadcasting Pervaiz Rashid, Minister for Science and Technology Zahid Hamid, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi, Minister of State for Information Technology Anusha Rehman Khan, Chairman Privatisation Commission Muhammad Zubair, Statistics Division Secretary Rukhsana Saleem, Textile and Industries Secretary Rukhsana Shah, Petroleum and Natural Resources Secretary Abid Saeed, Finance Secretary Dr Waqar Masood Khan, Advisor to Finance Ministry Rana Asad Amin, Secretary Industries and Production Shafqat Hussain Naghmi, Secretary Planning Hasan Nawaz Tarrar, Revenue Division Secretary Tariq Bajwa, Water and Power Secretary Saifullah Chattha, Securities and Exchange Commission Chairman Tahir Mehmood, SBP Deputy Governor Ashraf Mehmood Wathra, Additional Secretary National Food Security Iftikhar Ahmed Rao, Additional Secretary Communication Aurangzeb Haq, Additional Secretary Commerce Fazal Abbas Maken, Additional Secretary Economic Affairs Yasmin Masood and senior government officials.
According to the meeting proceedings, the Ministry of Industries was not in favour of the Commerce Ministry’s summary for the clearance of used vehicles of 2009 model. The Secretary Industries tried to voice his concerns over the summary but reportedly he was not allowed to speak by the Finance Minister.
It may be recalled that it came to the notice of the Finance Minister during a presentation made by FBR recently that hundreds of cars were stuck up at the Karachi Port for which a representation had also been made to him during his recent visit to Karachi as well. The Ministry of Commerce informed the ECC that around 900 vehicles of 2009 model were stuck up on the ports due to confusion in determination of age of cars. The ECC decided to grant a one-time waiver, where the date of Export General Manifest (EGM) was prior to 31.12.2013, subject to payment of surcharge.
The ECC approved that the surcharge for the first eight months beyond the prescribed age limit of three years would be calculated on rates stipulated in Ministry of Commerce O.M. Dated 25.2.201 and an additional surcharge for the period (maximum 4 months) beyond 3 years and 8 months at a flat rate of 20 percent of the C&F value.
The powers to condone age beyond prescribed age limit, delegated to Collectors Customs, vide Ministry of Commerce OM dated 25.2.2013 and 15.6.2012 were also withdrawn by ECC subject to two months public notice. The ECC, however, permitted the relevant Customs Collectorate may continue to delegate the authority for condoning delay in shipment by 30 days beyond the prescribed 120 days (para 4(1)(b) and 4(3)(c) of the Appendix-E of IPO-2013, against an additional surcharge of 5 percent.
On a summary moved by Ministry of Commerce, the ECC decided to allow TCP to purchase 75,000 tons of sugar from mills in the first month and 50,000 tons per month subsequently with the condition that it will inform about the progress to the ECC by the end of February 2014. The decision has been taken in view of the fact that this is the middle of the crushing season and the sugar cane production was projected to be very good.
The ECC also approved establishment of a monitoring unit in the Ministry of Petroleum and Natural Resources to evaluate its performance and that this cell shall submit quarterly reports before it. The monitoring unit would oversee: (i) setting up of benchmarks and keep performance indicators for Distribution Companies (Discos) and Generation Companies (Gencos) as well as other entities/organisations under the Ministry of Water and Power; (ii) monthly monitoring of the above benchmarks.
The ECC approved the National Power Tariff and Subsidy Policy Guidelines (NPTSPGs) 2014 submitted by Ministry of Water and Power.
